Amazon completes One Medical takeover after FTC nod, discounts membership

(Reuters) -Amazon.com Inc said on Wednesday it had completed its $3.5 billion takeover of primary care provider One Medical, a day after a U.S. Federal Trade Commission (FTC) official announced that the agency would not challenge the deal.

The acquisition, announced last July, gives the online retailer a virtual health offering as well as offices for in-person medical services for the first time.

It reflects Amazon (NASDAQ:)’s long-held ambition to simplify how consumers navigate healthcare in the United States, a lofty goal it has yet to realize even as the company has rolled out a virtual pharmacy and other programs.

In a statement, Amazon’s Chief Executive Andy Jassy said the deal would help the company improve, speed up and personalize care for patients. “If you fast forward 10 years from now, people are not going to believe how primary care was administered,” he said.

The company also announced it would discount One Medical membership to $144 from $199 for the first year to new customers, irrespective of whether they are subscribers to Amazon’s Prime loyalty program. Membership covers access to One Medical’s virtual care services, referral and insurance navigation, Amazon said.